Louisiana State Employees Retirement System lowered its stake in Amtek Inc. (NYSE:AME) by 3.2% during the second quarter, Holdings Channel reports. The institutional investor owned 15,300 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Amtek were worth $707,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in AME. ING Groep NV acquired a new position in Amtek during the first quarter valued at approximately $269,000. Magnetar Financial LLC acquired a new position in Amtek during the first quarter valued at approximately $271,000. Shufro Rose & Co. LLC increased its position in Amtek by 22.3% in the first quarter. Shufro Rose & Co. LLC now owns 6,574 shares of the company’s stock valued at $329,000 after buying an additional 1,199 shares during the last quarter. Capital One National Association increased its position in Amtek by 7.7% in the second quarter. Capital One National Association now owns 7,858 shares of the company’s stock valued at $363,000 after buying an additional 563 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in Amtek during the first quarter valued at approximately $455,000. Institutional investors and hedge funds own 87.74% of the company’s stock.
Amtek Inc. (NYSE:AME) traded down 0.34% during midday trading on Wednesday, hitting $46.24. 2,235,650 shares of the company traded hands. Amtek Inc. has a 12-month low of $42.82 and a 12-month high of $57.00. The stock’s 50-day moving average price is $48.10 and its 200 day moving average price is $47.90. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 19.34 and a beta of 1.21.
Amtek (NYSE:AME) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. Amtek had a net margin of 14.47% and a return on equity of 17.53%. The firm had revenue of $977.70 million for the quarter, compared to analysts’ expectations of $986.35 million. During the same period in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts forecast that Amtek Inc. will post $2.30 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.36 annualized dividend and a yield of 0.78%. Amtek’s dividend payout ratio (DPR) is presently 15.13%.
AME has been the topic of several analyst reports. Jefferies Group lowered their target price on shares of Amtek from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. RBC Capital Markets reissued an “outperform” rating and set a $53.00 target price (down from $56.00) on shares of Amtek in a research report on Friday, August 5th. Stifel Nicolaus lowered their target price on shares of Amtek from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. BMO Capital Markets set a $53.00 target price on shares of Amtek and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Oppenheimer Holdings Inc. lowered their target price on shares of Amtek from $56.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Amtek currently has a consensus rating of “Buy” and a consensus price target of $53.09.
In other Amtek news, insider John Wesley Hardin sold 24,500 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $49.59, for a total transaction of $1,214,955.00. Following the sale, the insider now directly owns 81,096 shares of the company’s stock, valued at approximately $4,021,550.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.00% of the company’s stock.
Amtek Company Profile
AMETEK, Inc (AMETEK) is a manufacturer of electronic instruments and electromechanical devices. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.
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